ARV based on an appraisal or DSCR with 12 months.

I would first get the base squared away.

Again, this is based on my own experience, so others might disagree. 1.

A HELOC carries a higher rate over a shorter amortization usually 10 or 15 years and a mortgage carries a lower rate over a 30 year amortization offering a lower payment.You have to run the math in each scenario because the math differs based on a few things like Fico score, CLTV, Loan size, and time frame between purchase and refinance of new property.

Hello everyone,I’m a 18 year old electrical apprentice and I’m looking to do a full dive into real estate investing.I am in the union and earning base wage, parking, vacation pay, pension and full benefits are covered.I am saving about 400/w in a high interest savings account right now which is 60% of my pay, I am going to get guaranteed $5/h raises every year for the next 5 years.

If you are brand new, drive around and make notes of just a few properties that might be looking to sell based on their upkeep.

@Shane Pearlman, did they say directly that the highest and best use of the property would be to subdivide into 3 lots and that their valuation was based on that?

I'm based in Tampa, happy to connect with you. 

Your property might be a little hard for MTR based on that layout, but again the garage could be good for storage for home sellers who sold and don't know where to go as well.

It sounds like there is some scale in the deal for a fix and flip, but you would surely be way out ahead of your skis to do that based on what you said.